Incentives & Financing
Panola County is a Tier III county, therefore, an industry will qualify for a full sales and use tax exemption on purchases of component building materials used in the construction or expansion of a building and for the purchase of any new machinery and equipment. Learn more about the Sales and Use Tax Exemption for Construction or Expansion.
State income tax
The formula for calculating the state income tax exemption for job tax credits in Panola County (a Tier III County) is 10% of payroll of the company per year for five years. This incentive requires the hiring of no less than 10 new jobs. Learn more about the Jobs Tax Credit.
County and City property taxes
Panola County and cities within Panola County will grant a 10 year tax exemption on all real and personal property except for school taxes that apply. (NOTE: The State of Mississippi does not have state property taxes.)
Also, the county will grant a Freeport Warehouse Tax Exemption on all finished goods that are shipped out of state that qualify. This is a perpetual exemption.
All industrial property in Panola County is in a New Market Tax Credit Zone.
Other local incentives are available and are based on job creation, average wage, and the amount of investment by the company. We will be glad to discuss the details of these incentives with each individual company.
Mississippi Tax Credits, Tax Exemptions, and Incentives
Mississippi offers highly competitive incentives and programs To view all tax credits, visit Mississippi Development Authority’s Financial Resources Division.
Loans and Financing
Tennessee Valley Authority
USDA Rural Development Foundation
Small Business & Entrepreneur Initiative
Small business owners and entrepreneurs in Panola County can receive free technical assistance from the USDA Rural Development Foundation including:
- Assistance with Business Plan Writing
- Financial Assistance
- Licensing and Permit Information
- Growth and Expansion Strategies
- Marketing Plan Development
- Organizational Guidance
- Entrepreneur Training and Development
- Social Media & Website Development
- Government Procurement Assistance
Batesville Enterprise Center
Located in the Harmon Industrial Park at 275 Nosef Drive in Batesville, the 20,000-square-foot Batesville Enterprise Center provides office space, warehouse or storage space, reception, shared lounge, and utilities for small businesses in Panola County. A computer-lab is available on-site for companies to use in trainings and seminars.
The Center is part of the North Mississippi Enterprise Initiative, which is a public/non-profit/private partnership working to promote the growth of entrepreneurism and to support small business development in north Mississippi.
- 6 offices ranging from 400 to 930 sq. ft.
- 4 bays of warehouse space ranging from 2250 to 4250 sq. ft.
All offices are wired for internet and networking needs.
Tool & Die Industries
Local Tool & Die Industries
Panola County is home to several tool and die companies to support our industries near and far. These companies specialize in plastic injection molds, machine-parts for surrounding industry, tooling for manufacturing, and service medical, automotive, consumer, munitions and aerospace industries.
Our local Tool & Die Machinists include:
Visit their websites to learn more about what they can do to assist your business!
Precision Manufacturing and Machining Technology
Northwest Community College in nearby Senatobia offers training and education in the field of tool and die.
The Precision Manufacturing and Machining Technology major is an instructional program that prepares individuals to analyze specifications and lay out metal stock and to set up and operate machine tools to fit and assemble parts for the manufacture and repair of metalworking dies, cutting tools, fixtures, gauges, and machinist’s hand tools. Included is instruction in metal properties and in the applications and construction of tool and die designs.
Assisstance for Small Business
Panola Partnership, Inc. works hand-in-hand with the University of Mississippi’s Small Business Development Center to assist new entrepreneurs and existing small businesses. Please contact UMSBDC directly, for more information at (800) 725-7232,(662) 915-1291, or e-mail firstname.lastname@example.org.
We also work with the team at North Delta Planning and Development District (NDPDD) with loan programs for Small Businesses. They can be contacted by calling the Panola County office in Batesville at (662) 561.4100 or email@example.com. Their office is located at 220 Power Drive (off Highway 6) in Batesville.
At the request of the Mississippi Public Service Commission, electric and natural gas utilities submitted small business incentives with the stated goal of helping businesses during this time of economic decline. Listed here are the criteria of the utility plans submitted to the Commission. Additional terms and conditions apply. Please refer to the applicable utility’s website for more information.
Small businesses are the backbone of Mississippi’s economy. In an effort to strengthen and grow the small business sector of Mississippi, the Entrepreneur Center at the Mississippi Development Authority has created Business Launchpoint. This guide is designed to educate entrepreneurs on the proper techniques to successfully launch and grow a new business.
The Business Launchpoint is a guide designed to educate entrepreneurs and small business startups on the proper techniques to successfully launch or maintain a business. With instructions on how to write a business plan, create a marketing strategy and develop a financial strategy, the tool kit is free to download and available on www.mississippi.org and www.msenetworks.org.
MS Manufacturers Association
Mississippi’s manufacturing industry is crucial to the success of the state’s economy, accounting for 12 percent of total nonfarm employment in 2010, according to a recent report commissioned by the Mississippi Manufacturers Association (MMA).
- A voice in the state legislature
- Publications and information
- Unlimited resources and consultations
- Seminars and training courses
- Committees centered around policies, issues, law and how your companies are affected
- Discounted insurance products
- Discount programs and services
Their professional staff serves as an easy-access resource for assistance on specific issues such as:
- Employee relations
- Workforce development
- Government relations
Employers are assembled to offer real job opportunities to those individuals looking for employment. It is distinguished from a career day in that job placement rather than career exploration is the main objective and expected outcome. The Mississippi Department of Employment Security promotes the use of job fairs as another means to help meet the needs of employers, the unemployed, our graduating college and community college students, and our returning military service members. Every job fair planned, conducted or sponsored by this agency is held to the highest standards in organization, professionalism, accessibility, and outcome.
Panola Partnership, Inc. is a proud supporter of our area job fair each year. We thank our wonderful Ambassadors for their assistance with this important event.